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Affordable office space options needed

15.02.2015
In districts such as Business Bay and DWC Commercial City, larger and more expensive commercial real estate represent 30%.

For sustainable capital formation to take place, there has to be a nurturing of the SME [small- and medium-sized enterprises] sector. And that can only happen when commercial real estate is made affordable …’ Hernando de Soto.

In the past few months, there has been much discussion on the need for affordable residential units in Dubai. However, what has been missing from this debate is the issue of commercial real estate, and the prices and rents that can promote a SME enterprise, says Sameer Lakhani, managing director of Global Capital Partners.

In a Gulf News article, he wrote: "When looked at from a demand-supply gap, there appears to be a similar structural shift towards higher-end office space as has been the case in the residential space. This trend needs to be examined for the implications it has on SME formation and expansion."

According to him, in districts such as Business Bay and DWC Commercial City, the larger and more expensive commercial real estate represent 30% and this will possibly rise to 45% by 2020.

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Lease process (Rent out)

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

Property management

Lease process (Rent)

1 hour

Contract of the lessee and agency.

Up to 5 days

Real estate search.

Selection of optimal options.

Up to 2 days

Signing of the lease agreement

Expenses of the lessee:

-5% agency commission of the annual contract price

Additional services:

None

Purchase process

1 hour

Contract of the tenant and agency.

~ 2 weeks secondary

~ 3 weeks new building

Property Selection

Selection of optimal options

1 Week

Registration of the contract of purchase / sale

Customer charges:

  • 2% from purchase at transaction
  • 4% - registration of the transaction at registration

Additional services:

Property management

Sales Process

1 hour

Contract of the lessee and agency.

Required documents:

  • copy of the passport
  • copy of the certificate of ownership

1 day

Ad placement:

  • 20 real estate portals;
  • client base of the agency;
  • profile exhibitions, etc.

Up to 2 days

Signing of the lease agreement

Expenses of the seller:

None

Additional services:

None

the management process

1 hour

Contract of the owner and agency

1 year

Rendering of management services

1 day

Reporting

Expenses of the owner:

5% of the annual rental price

Additional services:

None

Investment Process

1 hour

Contract of the tenant and agency.

From 3 days

Selection of optimal investment options

1 Week

Registration of the contract of purchase / sale

Expenses of the investor:

  • 2% when investing in the secondary market
  • 0% when investing in a new building
  • 4% - registration

Additional services:

Property management